Check Bank Nifty Full Analysis At Unicorn Signals

Bank Nifty Weekly Outlook and Analysis:

For the Week: (Dec 05, 2022 – Dec 09, 2022)

Check Nifty Index Full Analysis At Unicorn Signals

NIFTY BANK Index closed the week on positive note gaining 119.80 points 0.28%.

Weekly High: 43,515.05

Weekly Low: 42,740

Weekly Close: 43,103.75  

Weekly Support & Resistance For Nifty Bank Index:

Technically on the daily charts we see minor support on the downside for NIFTY BANK index lies at  42700 levels, whereas minor resistance on the upside is capped around 43450-43500 levels.

If NIFTY BANK index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 42300 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 43900.

Currently NIFTY BANK index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 42400 on downside and 43800 on upside.